[keenmaster]

I didn't downvote, but while I see the value in a moderate wealth tax, I think cutting the rich down to median salary would destroy a lot of value. Our capitalist system is undergirded by pecuniary incentives to innovate, improve, and produce. If you take those incentives away, the most productive members of society will not produce as much.

Some people are saying that billionaires shouldn't exist. I'm not so sure. If we create a high marginal wealth tax at each 5 or 10 billion dollar bracket, and someone still manages to retain tens of billions of dollars, then they're producing a massive amount of value that should only be celebrated.

[StacyRoberts]

Can you imagine that Bill Gates would get wealthy again or Warren Buffett? They would be lauded as heroes! They already are for suggesting something similar, just at death. They give away so much already and are loved for that.

What if they were that person twice our three times! The most productive people will have a new incentive to create tremendous value again!

Very soon I will get a warning from hn that I'm posting too fast. I Don't know when that will be but I will respond when I can. I love the constructive dialog.

I really do believe in this plan.